We need a good name for the real threat. And I don't doubt for even a moment that the Whatever Virus can be deadly, the Greatest Depression will kill far more people. And the longer we have the country locked down, the higher the figure will climb.Continue...Read More
Mohamed El-Erian, chief economic advisor at Allianz, joins "Squawk Box" to discuss the economy, the markets and the big earnings week ahead.Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world's largest bond funds in the world. Dr. El-Erian...Read More
The mortality rate is not the reason for the shutdowns. The purpose of the closedowns is to reduce the exponential rate of infection. Covid-19 is much more contagious thanContinue...Read More
The low-grade seaborne manganese ore price in China rocketed by 32.1% week on week on Friday April 24 after some buyers accepted the first offer made since South Africa went into lockdown on March 26. Fastmarkets' manganese ore index 37% Mn, cif Tianjin soared by $1.65 to $6.79 per per dry metric tonne unit (dmtu) on Friday, hitting a new high since November 23, 2018, when the index was $6.84...Read More
Proposals are floating up for four very corrosive measures: negative interest rates; directly subsidizing bonds; writing Fed checks for corporate equity or for a universal basic income up to $72,000 Continue...Read More
Here's where all 50 states stand on reopening their economies, now that the White House has released its 'guidelines' and delegated ultimate authority to the governors of each state.Continue...Read More
"As most people dying with Covid-19 are older with underlying chronic conditions, some have speculated that the impact of the condition may have been overstated, and that the actual number of years of Continue...Read More
"There will be limited supply of our products available in grocery stores until we are able to reopen our facilities that are currently closed," Tyson wrote.Continue...Read More
The price spread for Europe-origin high-carbon ferro-chrome widened to $0.15 per lb in the week ended Friday April 24 with deals reported at higher prices after the rebound in the ferro-chrome and charge chrome benchmark price for shipments in the second quarter of the year.The gap between the highest and lowest reported deal prices was almost $0.20 per lb, with signs of firmer fundamentals encour...Read More
The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.Prices on the international market have been on a rollercoaster ride over recent weeks.The price of steel scrap,...Read More
British carmaker Jaguar-Land Rover will gradually resume production at several production sites in the UK and Europe from May 18, the company announced late last week.The partial resumption of operations will begin with plants at Solihull in the UK, Nitra in Slovakia, and in Austria.Operations have been suspended across Europe since March 20 amid growing pressure to try to contain the spread of th...Read More
The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.Prices on the international market have been on a rollercoaster ride over recent weeks.The price of steel scrap,...Read More
Turkish steelmakers have cut their capacity utilization rates to prevent the spread of Covid-19 among employees amid reduced demand for steel due to pandemic lockdown measures in the domestic and export markets.Several Turkish long steelmakers stopped production in March and April, and some of them have not yet resumed production.Maintenance breaks have reduced flat steel output in Turkey recently...Read More
Ferrous scrap imports to Vietnam rose by 64.8% year on year over the first three months of 2020, statistics from the country's customs bureau show.Total scrap imports reached 1.39 million tonnes in January-March 2020, up from 843,666 tonnes in the corresponding period of last year.Scrap imports from Japan saw the largest rise of any major seller to the country, soaring by 110.3% over the period to...Read More
Here are five Fastmarkets stories you might have missed on Monday April 27 that are worth another look.The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.The Itali...Read More
First Quantum has cut its 2020 copper production guidance by 75,000 tonnes to 755,000-805,000 tonnes as a result of a reduction in production expectations at Cobre Panama due to the Covid-19 pandemic.This guidance range is dependent upon the Toronto, Canada-listed company receiving approval from Ministry of Health of the Republic of Panama (MINSA) to commence the restart of operations before or by...Read More
Peruvian copper mine Antamina is still uncertain when it will be able to resume operations following a workforce demobilization due to the Covid-19 pandemic, the company said on Monday April 27.The mine underwent a stoppage on April 13, under which most workers still on-site were removed. Up to that date, around 2,700 people were still working at Antamina - an already reduced figure from the 6,000...Read More
The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.Prices on the international market have been on a rollercoaster ride over recent weeks.The price of steel scrap,...Read More
Here are five Fastmarkets stories you might have missed on Monday April 27 that are worth another look.The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.The Itali...Read More
The Covid-19 pandemic has resulted in a shortage of ferrous scrap in many key supply locations, provoking a 21% rise in international scrap prices in just 12 days from April 3 to April 15. But despite this, domestic prices in many areas were settled lower in April's monthly negotiations.Prices on the international market have been on a rollercoaster ride over recent weeks.The price of steel scrap,...Read More